Global Retirement Partners LLC Lowers Stake in Enterprise Products Partners L.P. (NYSE:EPD)

Global Retirement Partners LLC reduced its holdings in shares of Enterprise Products Partners L.P. (NYSE:EPD) by 14.1% in the third quarter, HoldingsChannel reports. The fund owned 36,810 shares of the oil and gas producer’s stock after selling 6,022 shares during the period. Global Retirement Partners LLC’s holdings in Enterprise Products Partners were worth $1,072,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of EPD. Park Avenue Securities LLC purchased a new position in Enterprise Products Partners during the 1st quarter valued at about $951,000. Douglas Lane & Associates LLC lifted its position in Enterprise Products Partners by 27.4% during the 1st quarter. Douglas Lane & Associates LLC now owns 19,604 shares of the oil and gas producer’s stock valued at $572,000 after acquiring an additional 4,216 shares during the period. GP Brinson Investments LLC raised its holdings in Enterprise Products Partners by 174.0% in the first quarter. GP Brinson Investments LLC now owns 743,733 shares of the oil and gas producer’s stock worth $21,702,000 after buying an additional 472,270 shares during the last quarter. Miller Howard Investments Inc. NY raised its holdings in Enterprise Products Partners by 2.2% in the first quarter. Miller Howard Investments Inc. NY now owns 3,220,815 shares of the oil and gas producer’s stock worth $93,983,000 after buying an additional 69,396 shares during the last quarter. Finally, Charles Schwab Trust Co raised its holdings in Enterprise Products Partners by 6.7% in the first quarter. Charles Schwab Trust Co now owns 69,900 shares of the oil and gas producer’s stock worth $2,040,000 after buying an additional 4,382 shares during the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.

Enterprise Products Partners Stock Performance

Shares of EPD stock opened at $29.18 on Friday. The company has a 50 day moving average price of $29.21 and a 200-day moving average price of $28.97. Enterprise Products Partners L.P. has a 52 week low of $25.61 and a 52 week high of $30.05. The firm has a market capitalization of $63.37 billion, a PE ratio of 11.44, a P/E/G ratio of 1.49 and a beta of 1.03. The company has a quick ratio of 0.68, a current ratio of 0.91 and a debt-to-equity ratio of 0.98.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, July 30th. The oil and gas producer reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The business had revenue of $13.48 billion for the quarter, compared to the consensus estimate of $14.23 billion. Enterprise Products Partners had a net margin of 10.48% and a return on equity of 20.13%. The business’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 earnings per share. As a group, equities research analysts expect that Enterprise Products Partners L.P. will post 2.71 earnings per share for the current year.

Enterprise Products Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, October 31st will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $2.10 annualized dividend and a yield of 7.20%. Enterprise Products Partners’s dividend payout ratio (DPR) is 82.35%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EPD. Truist Financial lifted their target price on shares of Enterprise Products Partners from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Bank of America began coverage on shares of Enterprise Products Partners in a report on Thursday. They issued a “buy” rating and a $35.00 target price for the company. Royal Bank of Canada lifted their target price on shares of Enterprise Products Partners from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, StockNews.com cut shares of Enterprise Products Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $33.73.

Enterprise Products Partners Company Profile

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.